Stockton Firm to Develop Complex

The Luckey Co. of Stockton has purchased the University Towne Centre in La Jolla for the purpose of developing a three-story 381-unit garden apartment project designed by Dale Naegle Associates.

The 12.3-acre property at the northwest corner of Lebon and Palmilla Drive was sold for $8.763 million by the Bren Co. C. W. Clark Inc.’s commercial division in La Jolla represented both parties in the transaction.